Term
| Marketing research has 3 functional roles. These roles are: |
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Definition
| Descriptive, diagnostic, and predictive |
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Term
| ________ specifies the research questions to be answered, how and when data will be gathered, and how the data will be analyzed |
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Definition
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Term
| Which type of survey research method involves interviewing people in the common areas of shopping malls? |
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Definition
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Term
| Which type of survey question is a closed-ended question designed to measure the intensity of a respondent's answer? |
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Definition
| Scaled- response question |
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Term
| A(n) _________ is characterized by the researcher's altering one or more variables- such as a price or package design-- while observing the effects of those alterations on another variable. |
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Definition
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Term
| A company that has a(n) ________ customizes its product offerings based on data generated through interactions between the customer and the company |
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Definition
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Term
| _________ is the process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization |
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Definition
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Term
| Communications between customers and organizations that occur in stores or at information kioks are called: |
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Definition
| point-of-sale interactions |
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Term
| which type of list includes names and addresses of individuals who have responded to an offer of some kind? |
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Definition
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Term
| Which of the following techniques used to analyze marketing databases considers whether a customer has made a purchase reently as well as how often that customer makes a purchase? |
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Definition
| Recency-frequency-monetary analysis (REM) |
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Term
| ________ is the process of planning, collecting, and analyzing data relevant to market decision making. The result of this analysis are then communicated to management. |
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Definition
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Term
| Information collected for the first time for the purpose of solving a particular problem under investigation is called ________ data. |
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Definition
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Term
| The most popular method for gathering primary data is ________ in which a researcher interacts with people to obtain facts, opinions, and attitudes. |
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Definition
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Term
| _________ research is the study of human behavior in its natural condition. It often proves that consumers do not do what they say they do such as how things use a computer or what they watch on tv. |
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Definition
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Term
| _________ permits the analysis to relate the response to one question, to the response to one or more other questions when assessing marketing research data |
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Definition
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Term
| ________ is a company wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer segments. |
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Definition
| Customer Relationship Management (CRM) |
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Term
| A CRM system, ___________ are all areas of the business where customers have contact with the company and data may be gathered and used to guide and direct the decision making within that business unit |
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Definition
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Term
| a __________ is a central reportory for data from various funcional areas of the organization that are stored and inventoried on a centralized computer system so that information can be shared across all functional departments of the business |
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Definition
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Term
| A(n) ___________ lists generally includes names and addresses gathered from directories or membership rosters |
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Definition
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Term
| __________ is the process of finding hidden patterns and relationships in the customers data, stored in the data warehouse |
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Definition
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Term
| After a need or a want is recognized a consumer may be motivated to clarify the options available and generate a evoked set of brand, this occurs during which part of the consumer decision making process? |
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Definition
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Term
| When a consumer is purchasing an unfamiliar or expensive product the consumer often uses the _______ process. |
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Definition
| Extensive decision making |
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Term
| __________ is the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and is transmitted to one generation to the next |
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Definition
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Term
| To analyze consumer lifestyle, marketers look at consumers _______,______, and _______. |
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Definition
| activities, interests, and opinions |
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Term
| Which step in the consumer decision-making process is a result of an imbalance between actual and desired states? |
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Definition
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Term
| A group of brands, resulting from an information search, from which a buyer can choose is referred to as the buyer's |
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Definition
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Term
| The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category is referred to as: |
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Definition
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Term
| The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category is referred to as: |
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Definition
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Term
| The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category is referred to as: |
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Definition
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Term
| The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category is referred to as: |
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Definition
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Term
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Definition
| People who influence other |
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Term
| The process by which people select, organize, and interpret stimuli into a meaningful and coherent picture is called |
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Definition
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Term
| A __________ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories, has the ability to purchase these products, and is willing to exchange resources for the products |
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Definition
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Term
| The process by which people, select, organize, and interpret stimuli into a meaningful and coherent picture is called |
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Definition
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Term
| Which criterion of useable market segments means the firm must be able to reach members of targeted segments with customized marketing mixes |
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Definition
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Term
| Marketers use ________ to segment markets because this information is widely available, and factors such as age or gender are often related to consumer purchasing and consumption behavior |
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Definition
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Term
| A(n) ________ strategy entails selecting one segment of a market to target, and focuses on understanding the needs, motives, and satisfactions of the members of that segment, as well as on developing a highly sepecialized marketing mix |
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Definition
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Term
| __________ is the development of a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general, and is related to the place a product occupies in consumer's minds relative to competing offerings. |
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Definition
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Term
| The processes individuals use when making a purchase decision are called ___________. |
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Definition
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Term
| Inner tension that a customer experiences after recognizing an inconsistency between behavior and values or opinions is referred to as: |
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Definition
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Term
| _______ is characterized by low involvement, a short time frame, an internal-only information search, and low costs |
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Definition
| routine-response behavior |
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Term
| A group in society, such as family, friends, or a professional organization, that influences and individual's purchasing behavior is called a(n): |
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Definition
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Term
| when consumers change or distort information that conflicts with their feelings or beliefs, it is called: |
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Definition
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Term
| A(n) _________ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have relatively similar product needs. |
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Definition
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Term
| According to the criterion of ________ a selected segment must be large enough to warrant developing and maintaining a special marketing mix. Serving the specific needs of this segment must be commercially viable, even if the number of potential customers is small. |
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Definition
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Term
| __________ divides individuals into groups according to the way they spend their time, the importance of items in their surroundings, their beliefs, and socioeconomic characteristics |
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Definition
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Term
| __________ is the process of grouping customers into market segments according to what is sought from the product |
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Definition
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Term
| When a firm serves two or more well-defined market segments with a distinct marketing mix for each, it is using a(n) __________ targeting strategy. |
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Definition
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Term
| The first step in the marketing research process is to: |
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Definition
| Identify and formulate the problem/ opportunity to be studied |
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Term
| Data previously collected for purposes other than the one at hand are in important source of information as the researcher defines as the problem. This data is called ___________ data. |
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Definition
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Term
| Which type of interview question encourages an answer phrased in the respondent's own words? |
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Definition
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Term
| The population from which a sample in a marketing research study will be drawn is referred to as the: |
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Definition
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Term
| A(n) _____________ sample is characterized by every element in the population having a known statistical likelihood of being selected |
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Definition
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Term
| In a CRM environment, _____________ is defined as the informal process of collecting customer information through customer contacts and feedback on product and service performance |
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Definition
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Term
| Customer-Centrics an internal management philosophy similar to: |
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Definition
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Term
| ______________ interactions occur when customers buy products in a store. |
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Definition
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Term
| A(n) ________ is a collection of data, especially one that can be accessed and manipulated by computer software |
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Definition
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Term
| ________uses a past set of occurrences to predict the likelihood that some other occurrences, such as a response or purchase, will take place in the future. |
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Definition
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Term
| _________ is a form of learning that occurs when one response is extended to a second stimulus similar to the first |
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Definition
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Term
| A market is people or organizations that have: |
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Definition
| needs and wants and an ability and willingness to buy |
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Term
| A market is people or organizations that have: |
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Definition
| needs and wants and an ability and willingness to buy |
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Term
| All of the following are criteria for successful market segmentation EXCEPT: |
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Definition
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Term
| ________ is the segmenting of markets based on the region of the country or the world, market size, market density (number of people within a certain unit of land), or climate |
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Definition
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Term
| A(n) ___________ is a group of people or organizations for whom an organization designs, implements, and maintains a marketing mix intended to need the needs of that group, resulting in mutually satisfying exchanges |
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Definition
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Term
| Which of the following is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or group of products in customers' minds? |
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Definition
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Term
| Marketing research problem |
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Definition
| determining what information is needed and how that information can be obtained effeciently and effectively |
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Term
| Marketing research Objective |
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Definition
| the specific information needed to solve a marketing research problem; the objective should provide insight on decision making project |
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Term
| What are the sources of secondary data? |
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Definition
Internal corporate information
government agencies
trade and industry associations
business periodicals
news media |
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Term
| What are the advantages and disadvantages of secondary data? |
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Definition
Advantages:
Saves time and money
Aids in determining direction for primary data collection
pinpoints the kinds of people to approach
Disadvantages
May not give adequate detailed information
May not be on target with the research problem
quality and accuracy of data may pose a problem |
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Term
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Definition
Information colelcted for the first time
can be used for solving the particular problem under investigation |
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Term
| Advantages and disadvantages of Primary Data |
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Definition
Advantages:
answers a specific research problem
Disadvantages:
Usually offset by the advantages of primary data
expensive
quality declines if interviews are lengthy
reluctance to participate in lengthy interviews
"Piggybacking" may confuse respondents |
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Term
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Definition
| the most popular technique for gathering primary data in which a researcher interacts with people to obtain facts |
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Term
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Definition
in-home interviews
mall intercept interviews
telephone interviews
mail surveys
executive interviews
focus groups |
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Term
| What are different questionnaire designs? |
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Definition
Open ended question
scaled-response question
closed ended question |
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Term
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Definition
| an interview question that encourages an answer phrased in respondent's own words |
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Term
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Definition
| an interview question that asks the respondent to make a selection from a limited list of response |
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Term
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Definition
a closed ended quesion designed to measure the intensity of a respondent's answer
clear and concise
no ambiguous language
only one question
unbiased
reasonable terminology |
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Term
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Definition
a research method that relies on four types of observations:
People watching people
people watching an activity
machines watching people
machines watching an activity |
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Term
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Definition
the study of human behavior in its natural context; involves observation of behavior and physical setting
"fishbowl effect"
You know they buy it, but HOW do they use it? |
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Term
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Definition
| Sample- a subset from a large population |
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Term
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Definition
simple random sample
stratified sample
cluster sample
systematic sample |
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Term
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Definition
convenience sample
judgement sample
quota sample
snowball sample |
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Term
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Definition
| the population from which a sample will be drawn (census) |
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Term
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Definition
a sample in which every element in the population has a known statistical likelihood of being selected
a KNOWN chance |
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Term
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Definition
a sample arranged so that every element of the population has an equal chance of being selected
Raffle |
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Term
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Definition
| any sample in which little or no attempt is made to get a representative cross-section of the population |
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Term
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Definition
| A form of nonprobability samples using respondents who are convenient or reaily accessible to the researcher |
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Term
| Field Service Firms provide: |
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Definition
Focus group facilities
mall intercept facilities
Test product storage
kitchen facilities |
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Term
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Definition
| a count of how many people answered the survey and their answers |
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Term
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Definition
a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions
hair color and eye color |
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Term
| Customer Relationship Management |
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Definition
| A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups |
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Term
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Definition
| the company customizes it's product and service offering based on data generated through interaction between the customer and the company (through data and research) |
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Term
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Definition
| an informal process of collecting customer data through customer comments and feedback on product or service performance |
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Term
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Definition
the process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization
includes:
Experiential observations
comments
customer actions
qualitative facts |
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Term
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Definition
the point which a customer and a company representative exchange information and develop learning relationships
Current transaction
past relationship
Channel
Requested service |
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Term
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Definition
| all possible areas of a business where customers communicate with that business (bigger and include point-of-sale) |
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Term
| Point-of-sale interactions |
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Definition
| communications between customers and organizations that occur at the same point of sale, normally in a store (not all touch points are point of sale) |
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Term
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Definition
Store visits
Conversations with salespeople
interactions via the web
traditional phone converstations
Wireless communications |
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Term
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Definition
| a central repository for data from various functional areas of the organization that are stored and inventoried on a centralized computer system |
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Term
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Definition
| a colelction of data, especially one that can be accessed and manipulated by software |
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Term
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Definition
| List of your customers that you have put together in your comapany |
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Term
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Definition
a list that you buy from an outside vendor
asks for specific things
phonebook |
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Term
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Definition
| A data analysis procedure that identifies significant patterns of variables and characteristics that pertain to particular customers or cusotmer groups |
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Term
| Recency-frequency-monetary analysis |
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Definition
Identifies customers mostly like to purchase again
identifies and ranks "best customers"
Identifies most profitable customers |
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Term
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Definition
| a data manipulation technique that projects teh future value of the customer over a period of years |
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Term
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Definition
| A data manipulation technique in which marketers try to determine what the odds are that some other occurrence will take place in the future |
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Term
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Definition
Reinforcing customer purchase decisions
Developing customized offerings for appropriate segment
pricing these offerings attractively
communicating offerings in a way that enhances customer relationships |
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Term
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Definition
Inducing product trial by new customers
REtaining an additional 5 percent of customers increasese profits by as much as 25 percent
IMproving customer retention by 2 percent can decrease cost by as much as 10 percent
loyalty programs reward loyal customer for making multiple purchases
Loyalty programs-provide information about customer trends |
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Term
| Cross-selling other products and services |
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Definition
CRM provides opportunities to cross-sell related products
Cross-sell to customers with demographic lifestyle, or behavioral characteristic matches
Internet companies use product and customer profiling to reveal cross-selling opportunities
"Do you want fries with that?" |
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Term
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Definition
| offer direct incentives, such as a price discount |
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Term
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Definition
| offer more reinforcement of past purchase decisions |
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Term
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Definition
| Design around loyalty and reinforcement of purchase |
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Term
| Reinforcing Customer Purchase Decisions |
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Definition
| Cognitive Dissonance is the feeling customers experience when they recognize inconsistency |
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Term
| Increasing Effectiveness of distribution Channel Marketing |
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Definition
RFID technology
Multichannel Marketing
CRM databases |
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Term
| Improving Customer Service |
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Definition
| Level of customer service is influential in customer retention |
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Term
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Definition
| the percentage of customers who repeatedly purchase products from a company |
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